Carlyle says no plan to exit Taiwan bank for now
Private equity fund Carlyle has no plans for now to try and sell its stake in Taiwan's Ta Chong Bank again as the timing is not good in a tough global market.
Carlyle's plan to sell the stake in a deal worth up $1.25 billion fell apart in May when the potential buyer, Yuanta Financial, pulled out.
"Nobody has approached us about a sale, and I don't think we'll be selling for the time being," said Carlyle managing director Alex Ying told reporters on the sidelines of a business event.
"We need to find a good timing to exit, but it's not now ... Our most essential job is to improve Ta Chong's earnings performance," he said.
Rival private equity firm Longreach Group told Reuters earlier in July that it is in no hurry to sell its stake in Taiwan's EnTie Commercial Bank, saying it will take its time amidst a tough environment.
This article is copyrighted by Reuters